Americans Debt Increase

The Senate on 26 January 2012 voted to allow Obama to increase the debt ceiling by $1.2 trillion to ensure that the federal government can pay its bills through the November elections. Rick Santelli hashed out the population and debt numbers on CNBC (27 January), where he determined that the additional increase from Thursday alone places “$3,834 for every man, woman and child,” and if you take into account the August increase $10,545 each. To look at the total picture, the new debt ceiling is now at $16.4 trillion for the 312 million people in the US, which equals $52,409 per American.